Bolivia Discovers 1.7 TCF Natural Gas Reserve in Mayaya Centro-X1 IE

Jul 15, 2024, 05:36 PM

Bolivian President Luis Arce announced the discovery of a significant natural gas reserve, described as a 'mega field,' in the north of the La Paz department. The reserve is estimated to hold 1.7 trillion cubic feet (TCF) of natural gas, making it the largest discovery in Bolivia since 2005. The new field, named Mayaya Centro-X1 IE, comes at a critical time when the country is experiencing a decline in oil and gas production, which has impacted foreign exchange reserves. This discovery is expected to bolster Bolivia's energy sector and improve its economic outlook.